DALLAS – The law firm of Baron & Budd, P.C. has commenced an investigation of the option-granting practices of Progress Software, Corp. On June 27, 2006, the Company announced that the Securities and Exchange Commission has begun an informal inquiry into Progress Software’s option-granting practices from fiscal 1996 to fiscal 2002. Baron & Budd is pursuing an even more expanded time period and has uncovered an apparent scheme to grant stock options to executives at unusually favorable dates and prices to the detriment of Progress Software and its shareholders.

If you are a current Progress Software shareholder and would like to be advised of your rights in this matter, you may contact Baron & Budd, P.C. at the phone number below.

About Baron & Budd, P.C.

Since 1977, the law firm of Baron & Budd, P.C. has championed the rights of people and communities harmed by corporate misconduct. With over 80 attorneys and offices in Texas, California, Ohio, Louisiana, and New York, Baron & Budd enjoys a national reputation as a leader of the plaintiff’s bar. The firm represents individuals with mesothelioma and other diseases caused by asbestos; leukemia and lymphoma caused by benzene; and injuries caused by other toxic substances and pharmaceuticals. The firm also represents water authorities seeking clean-up costs for drinking water contamination; securities investors defrauded by corporate wrongdoing; and consumers. For more information about Baron & Budd, call 1-800-222-2766 or visit www.baronandbudd.com.